Colliers International facilitates new concept store lease in Rundle Mall
A popular staple of the retail clothing scenes in Berlin, Seoul, London and Shanghai, adidas Originals has now descended on Adelaide.
South Australia welcomed the international brand’s Australian Neighbourhood concept store last week, following the launch of sister stores in Sydney, Melbourne and Brisbane earlier this year.
Sportswear giant adidas is leasing a flagship store at 148 Rundle Mall, the former premises of Live Clothing.
Colliers International’s Ben Laycock negotiated the deal with local investor Castenada Pty Ltd on behalf of The Zorich Group, on a lease term of five years plus five years.
“With a glazed eight-metre frontage to Rundle Mall and rear loading access from Porters Lane, adidas has about 467sqm across basement, ground and mezzanine levels,” he said.
“This is a genuine flagship site with double-height ceilings on ground level, amazing space and abundant natural light.”
Tom and Judy Zorich founded The Zorich Group five years ago, boosted by their active presence in the Adelaide retail sports industry since 1987. It is the parent company of South Australian retailers Sportspower, JT Surf and Rivalry Urbanwear.
“We have grown our retail footprint over recent years to now include the adidas Originals store in Rundle Mall,” Mr Zorich said.
“Overall, we have 15 stores – nine sports stores, four surf stores and two street stores.
“South Australian consumers will benefit from the cool “go-to-market” offers from the adidas Originals concept store.”
Mr Laycock said the property owners were pleased to have an internationally renowned company like adidas in their site, an agreement which had come about due to the Zorichs’ strong retail support of the brand for many years.
“The Zorich Group’s alignment with adidas’ strategy and business values is paramount to this transaction,” he said.
“As a family business, the Zorichs are extremely honoured to become the first adidas licensee in Australia.”
Adelaide street artist Fortrose installed a mural inspired by the Mall’s Balls at the store’s official launch earlier this month, which also featured a DJ set and free tacos from La Cantina Co.